I won't call it retirement, because I'll still be sitting on some boards and getting paid, but I won't be going in the office anymore.
I'm 52 and have been in private equity for the last 25 years. This has provided my family a very nice lifestyle as we've sold companies and I've earned part of those profits. I hit my initial financial retirement goal when I was 42 and realized that amount wouldn't be enough to live on for the rest of my life since I was so young. When I doubled that amount by 49, I began to seriously consider stepping back. A few years later and I've added another 50% to my original target. It's time to say enough is enough and let the next generation take their turn.
I have no idea what I'm going to do with my free time, but I'm not phased by the unknown. I'm just excited for the change. I'll keep one foot in the game as I remain on a couple of boards and this will allow me to maintain health insurance for the family for a few more years until these companies sell. My youngest kid is still in high school so these responsibilities should last at least until we are empty nesters and can consider more traveling throughout the year.
I've enjoyed reading this forum and its really made me appreciate how fortunate I am from a financial perspective. Living well below our means and saving/investing most of our earnings into the companies we've bought have now allowed me the flexibility to do what I want, or more importantly, not do what I don't want.
I'm 52 and have been in private equity for the last 25 years. This has provided my family a very nice lifestyle as we've sold companies and I've earned part of those profits. I hit my initial financial retirement goal when I was 42 and realized that amount wouldn't be enough to live on for the rest of my life since I was so young. When I doubled that amount by 49, I began to seriously consider stepping back. A few years later and I've added another 50% to my original target. It's time to say enough is enough and let the next generation take their turn.
I have no idea what I'm going to do with my free time, but I'm not phased by the unknown. I'm just excited for the change. I'll keep one foot in the game as I remain on a couple of boards and this will allow me to maintain health insurance for the family for a few more years until these companies sell. My youngest kid is still in high school so these responsibilities should last at least until we are empty nesters and can consider more traveling throughout the year.
I've enjoyed reading this forum and its really made me appreciate how fortunate I am from a financial perspective. Living well below our means and saving/investing most of our earnings into the companies we've bought have now allowed me the flexibility to do what I want, or more importantly, not do what I don't want.
